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Artemis AIMs for growth

The Artemis AIM venture capital trust (VCT) has been set up to achieve long term capital growth for investors who are looking for an investment that can be used as a shelter against capital gains tax.

The company will invest in a broad spread of 50 to 60 companies that are involved in the alternative investment market (AIM) of smaller companies in the UK. Until these companies are decided on, the VCT will start off by investing in five Artemis funds, UK growth, UK smaller companies, new enterprises, income and UK special situations.

Up to 25 per cent of the VCT will also invest in companies listed in OFEX as well as unquoted companies.

Artemis feels that the AIM market is a well developed sector and offers the capacity for dynamic growth. It also believes that OFEX includes many up and coming companies which have the potential for growth.

According to Standard & Poor’s the Artemis UK smaller companies fund is rankled 67 out of 291 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over one year to February 12, 2001.

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